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Bitcoin Price Analysis: Fixed market at $ 60,131

 تاریخ انتشار :
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  Bitcoin

TL; DR failed

  • Prices are expected to rise.
  • The strongest resistance is at $ 60,131
  • The strongest support is at $ 56,468

Bitcoin price analysis shows that the king of digital currencies has experienced a sharp decline in the last five days and is constantly increasing. There is no clear pattern in the change in the price of digital currency.

4-hour BTC / USD price chart: The market is losing its volatility

Bollinger Group Bitcoin price analysis shows that volatility has decreased over the past few days. The lower limit of the Bollinger Bands is at $ 56,468 support and the upper limit is at $ 60,131 resistance. Observing the moving average curve, we conclude that the price is crossing the curve, which indicates a positive slope, meaning that the market is following an uptrend.

Bitcoin Price Analysis: Fixed Market at $ 60,131 8
Source of 4-hour Bitcoin price analysis chart: Trading view

Observations based on the Relative Strength Index (RSI), 39, show that assets are moving slightly towards the low value. This means that cows are losing control of the market. The Cows must increase their game to get back their previous castle. Meanwhile, bears are trying to seize the market. Reducing volatility indicates that asset prices are less prone to change. They may or may not, but most likely will not change.

Bitcoin Price Analysis: Market fluctuations are increasing

Analysis of the Bitcoin price in the overnight price chart shows that fluctuations in the digital currency market show an upward trend, so the price of assets on both sides is prone to further changes. The upper limit of the Bollinger Band is $ 68,257 as resistance, while the lower limit of the Bollinger Band is at $ 56,104 which is support. The moving average of the chart is crossing the curve, which indicates a positive slope. It is a positive gradient and a sign of upward movement.

Bitcoin Price Analysis: Fixed Market at $ 60,131 9
Source of one-day Bitcoin price analysis chart: Trading view

Analyzing the Relative Strength Index (RSI), we conclude that bitcoin assets do not show variable price changes. They stay in the middle, neither over-sold nor undervalued. This means that neither bulls nor bears dominate the market. Both are in the same position. As the volatility trend increases, prices may show changes that can reach both extremes. It is only a matter of time before costs rise or fall.

Bitcoin Price Analysis: Conclusions

Bitcoin price analysis concludes that the current behavior of the king of digital currencies is following a relatively upward trend and is getting tired at the border of $ 70,000. The analysis shows a steady upward movement chart. In contrast, prices have fallen below $ 60,000 due to fluctuations in support values.

We have found that the current stable resistance is between $ 60,000 and $ 68,000. This means that the cows come in very strong and control the market. If bears hope to lower asset prices and capture the market, they should increase their play.

Disclaimer.The information provided is not a commercial recommendation. Ramzifa.ir is not responsible for the investments made based on the information provided on this page. We strongly recommend independent research and / or consultation with a qualified professional before deciding to invest.